Initial token sale platform CoinList has revealed that more than 6,700 investors participated in Oasis Network’s “ROSE Garden” token drop.
The ROSE Garden token drop was designed to ensure an equitable token distribution and attract robust participation from stakers for the launch of the project’s mainnet. It allowed investors to lock up to 2,000 USDT or USDC before Nov. 18 for a period of one month in exchange for Oasis’ native ROSE token.
Oasis is a privacy-focused network designed to support decentralized applications and confidential computing processes.
The ROSE Garden has now amassed a total value locked of more than $10.5 million, which ranks it as the 32nd-largest DeFi project by TVL according to DeFi Pulse.
The locked stablecoins will be returned and ROSE tokens distributed on Dec. 15, with ROSE holders able to lock their tokens to participate in CoinList’s “ROSE cultivate” staking program — which will end on May 15, 2021. CoinList will take a 10% fee on staking returns.
The ROSE cultivate program has secured more than 3,000 delegators based in more than 100 countries.
The ROSE Garden is CoinList’s second-largest offering by number of participants, after Dapper Labs’ FLOW community sale — which attracted more than 12,500 investors.
The FLOW community sale similarly sought to ensure an equitable token distribution, offering all non-U.S. persons the opportunity to purchase $1,000 worth of the token at $0.10 each — the same price Dapper Labs’ venture capital investors were offered.
Dapper’s community sale raised nearly $9 million and ran parallel to a Dutch auction for FLOW tokens that settled for $0.38 per token and raised a further $9.5 million.
Oasis Network celebrated its mainnet launch on Nov. 19, promising that its privacy features will allow vetting for undercollateralized DeFi loans and the secure analysis of genomic data among other things.